Lots of Room for Revenue in UCaaS
According to Synergy Research Group, the UCaaS market continues to grow in the US at an astounding 29% a year. Retail UCaaS services account for well over 80% of the total market. The UCaaS market is now generating revenues exceeding $400 million per quarter and approaching $2 billion annually.
While the big guys like Ring Central, 8×8, Mitel, Broadsoft, and Vonage continue to duke it out at the top, there is plenty of market share available for those resellers who deliver a more personalized service to businesses in their local area. This is particularly true as smaller businesses, who have little or no dedicated IT personnel, migrate to UCaaS and Hosted PBX. This is becoming an under-served market as market leaders move to serving larger businesses and enterprises.
“UCaaS continues to provide a richer and more cost effective collaborative communication system for businesses globally,” said Jeremy Duke, Synergy Research Group’s founder and Chief Analyst. “We are also seeing an up-market acceleration of UCaaS adoption, moving from serving mostly smaller sized organizations now to gaining traction in businesses of over 100 seats and over 1,000 seats. Given that the displacement of premise PBXs remains low today, there is ample ground for UCaaS to find strong growth in displacing these legacy systems over a long stretch of time.”